Boeing, lockdown easing hopes set to lift Wall Street | Malay Mail

A Gilead Sciences Inc office is shown in Foster City, California, May 1, 2018. — Reuters pic

The benchmark S&P 500 is now set for its third weekly gain in four, on the back of a raft of global stimulus measures and hopes that state-wide lockdowns would be eased as the virus outbreak showed signs of ebbing. “With news of a potential beneficial treatment on the same day that Trump laid out plans to re-open the US economy, there is clear optimism over the possibility that some semblance of normality could soon return,” Joshua Mahony, senior market analyst at IG in London wrote in a note.

Big US lenders rebounded in premarket trading with Bank of America Corp, Citigroup Inc and JPMorgan Chase & Co rising more than 6 per cent after being hammered this week on reporting several billion dollars in reserves to cover potential loan defaults.

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